Wall Street Banks Are Using AI to Rewire the World of Finance
Leaders with Francine Lacqua
Bloomberg
4.6 • 64 Ratings
🗓️ 8 June 2023
⏱️ 30 minutes
🧾️ Download transcript
Summary
The AI revolution is fast unfolding all across Wall Street. Even as banks in recent months have laid off thousands of workers and instituted hiring freezes, they nevertheless continue to pour money into artificial intelligence. But what are these financial institutions hoping to get out of their investment?
On this week’s episode of In the City, Olson is joined by Alexandra Mousavizadeh, co-founder and chief executive of consultancy Evident. Together, they break down the financial industry’s growing interest in the technology and its likely impact on productivity.
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Transcript
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| 1:14.5 | This week we look at AI. It's both terrifying and exciting, Dave. |
| 1:18.1 | Yes, the revolution of artificial intelligence is unfolding in the banking industry as well as across the economy. |
| 1:26.0 | But we want to have a look at which banks are really |
| 1:27.9 | preparing themselves for it and which are likely to be left behind. |
| 1:31.8 | Yes, so the main question is, A, will it destroy our lives? |
| 1:34.8 | And if it doesn't destroy our lives, what does it mean for banks? |
| 1:37.3 | Exactly, like which of those is most important, right? |
| 1:40.3 | Our lives or our banks. |
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